It Is On Our Terms!
I understand from the FMS ASX releases that FMS has been in discussion with several 3rd Parties which have iron ore operations close to PIOP. Any of those 3rd Parties could harness the pent up anger from the shareholders who do not wish to accept the revised and still lousy 2.5c offer from TIO. Assuming those third party proposals were highly attractive, TIO may decide to continue those negotiations with these 3rd Parties in the event that TIO gains control of FMS.
I wonder if it would be attractive for either of those "third parties" (or a mining contractor eg MIN) to acquire an equity stake in FMS and maybe enough shares for a board position to ensure they have a say in PIOP development plans and share future profits?
Any 3rd Parties such as FMG or RIO could acquire up to 19.99% of FMS, without the need to launch a full takeover bid of FMS, and by doing so avoiding a bidding war.
Alternatively, either FMG or RIO could make a scrip or cash deal for shares from disgruntled holders and possibly could negotiate a deal directly with OCJ to secure OCJ's holding, which would give that new bidder a majority holding in FMS.
There could be plenty of upside for the third party, and shareholders would no doubt be delighted to sell to a company other than TIO, I know I would be.
After fielding many calls from FMS shareholders, and listening to their views, I have decided to place my shares for sale on the ASX at 5c, as imho that appears to me to be the consensus price, which may or may not attract an alternative to the TIO offer.
I understand that each shareholder may have different expectations, and each shareholder needs to consider their own position. Every shareholder can offer their shares at whatever price they are happy with.
Please feel free to join me on ASX. It would be a pleasure reporting to a number of 3rd parties and the press that a block of hundreds of millions of shares, held by disgruntled shareholders, are up for sale at 5c on market, that will trump the TIO offer without the need for them to enter a bidding war.
If this action does not come to fruition, I will go back to holding onto my shares and not selling to TIO.
I am not a financial advisor or a legal expert. I am just a shareholder. This post is not intended to offer any advice, and is just my personal views, and my personal plan. What you do with your shares is at your individual discretion and you should seek your own independent financial advice before making any decisions
Kind Regards,
Matthew Hester
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